James Fickel, a long-term bull on ETH/BTC exchange rate, reduced his position and sold 10,000 ETH in the past 5 hours to repay his loan

According to the on-chain analyst Ember, James Fickel, a long-term bull on ETH/BTC exchange rate, reduced his long position on ETH/BTC exchange rate by selling 10,000 ETH in exchange for 425.75 WBTC ($26M) to repay his loan in the past 5 hours.

He borrowed WBTC from Aave from January to July this year and sold it for ETH to go long on ETH/BTC exchange rate. His ETH/BTC exchange rate cost was around 0.054. After partially reducing his position today, his long position on ETH/BTC exchange rate is still very large: there is still a loan of 2438.5 WBTC ($148M). $ETH